With interest rates on the rise, the MSBA has updated its list of banks that qualify for recognition through our Bank on Justice Program. These banks offer a rate of greater than 0.5% interest on IOLTA accounts—thereby doing their part to support access to justice in our community. IOLTA revenue contributes essential funding for civil legal services and pro bono programs, which help people meet their families’ basic needs for shelter, safety, and health.
While many factors go into choosing where to bank, we hope that you will consider selecting one of these banks for your IOLTA needs. By selecting a Bank on Justice financial institution, you can increase the amount of money going to civil legal aid in our state, potentially by thousands of dollars. Thank you to the following banks for supporting access to justice:
- Arcadian Bank
- Bank of America
- BMO Harris
- Community Bank Mankato
- First National Bank North
- Merchants Bank
- Wells Fargo
Is your bank on the list? If not, please reach out and encourage them to raise their rate.